By Aidan Duggan (Solicitor)
Making a will is a practical and important step in planning for the future. While it may not be the most exciting thing to think about, it’s essential to ensure that your assets and property are distributed according to your wishes, and that your loved ones are provided for. In this post, we’ll go over what you need to know about making a will in Ireland.
First of all, it’s important to choose an executor who will be responsible for carrying out your wishes after you pass away. This could be a family member, friend, or professional such as a solicitor. Think carefully about who you trust to handle this important task. I would advise everyone to choose two executors, and if possible, ensure that they are a few years younger than you, such as a niece or nephew. I have come across many situations were the deceased lived into his 80s and both his executors pre deceased him. This leaves a situation were a (possibly) reluctant next of kin has to be nominated to fulfil the role of Executor. Although this isn’t exactly a disaster, it’s not ideal and can lead to delays in administering the estate.
Next, you’ll need to decide what to include in your will. Your will should include information on who you want to inherit your assets and property. This can include specific items such as your home, car, or savings. You can also include specific requests, such as funeral arrangements or charitable donations.
While it’s possible to make a will yourself, it’s recommended to seek professional advice from a solicitor or a wills and probate specialist. They can ensure that your will is legally binding and covers all necessary areas. This can provide peace of mind knowing that your wishes will be carried out.
To make the will legally binding, you’ll need to sign it in the presence of two witnesses who are not beneficiaries of the will. This is an important step to ensure that the will is valid and will be accepted by the courts.
Your will should be stored in a safe and accessible place, such as with your solicitor, a bank, or in a fireproof safe. Make sure that your executor knows where your will is located and can access it easily.
It’s important to review and update your will regularly, especially if your circumstances change, such as getting married, having children, or acquiring new assets. This can help ensure that your will reflects your current wishes and is up-to-date.
In summary, making a will is an important part of planning for the future. By choosing an executor, deciding what to include in your will, seeking professional advice, and signing and storing your will properly, you can ensure that your wishes are carried out and that your loved ones are provided for. Remember to review and update your will regularly to reflect changes in your circumstances. It may not be the most exciting thing to think about, but it’s a crucial step in ensuring that your legacy is protected.
The content on this blog is not intended to be a substitute for professional advice, and should not be relied upon as such.
Aidan Duggan (Solicitor)